Infracapital, the infrastructure equity investment arm of M&G Prudential, has announced that it has agreed to acquire a controlling equity stake in Energetics, one of the UK’s largest Independent Network Owners, from Macquarie Principal Finance, part of Macquarie’s Corporate and Asset Finance division and other individual shareholders including management.

Energetics designs, owns and operates ‘last mile’ electricity and gas connections across the UK. Since 2006 the business has built a significant existing network of 225k installed connections servicing residential and commercial customers. Senior management will retain a stake in the business.

Energetics is the second investment made by Infracapital Partners III following the fund’s final close in June 2018. Fund III’s strategy is to deliver essential infrastructure to meet the changing needs of society and support long-term economic growth across Europe.